A new economic theory, rather than a new public policy based on old theory, is needed to guide humanity toward sustainability. Institutions are a critical dimension of sustainability and sustainable forest management, and economic analysis of institutional dimension requires an inclusionist rather than an exclusionist approach. This book provides a systematic critique of neoclassical economic approaches and their limitations with respect to sustainability. Leading institutional economists discuss theoretical perspectives about appropriate institutions for sustainable forest management,...
A new economic theory, rather than a new public policy based on old theory, is needed to guide humanity toward sustainability. Institutions are a c...
This volume brings together 18 articles published during the last 20 years, devoted to understanding the concept of sustainable development. The volume analyzes sustainability from three different perspectives and addresses sustainable development from prescriptive, descriptive and operational points of view. Each part begins with an article which functions as a survey. An up- to-date introduction serves to tie the three parts of the volume together.
This volume brings together 18 articles published during the last 20 years, devoted to understanding the concept of sustainable development. The vo...
Forest resources are an ideal starting point for economic analysis of sustainability. In this book, leading economists discuss key aspects of sustainability and sustainable forest management including complexity, ethical issues, consumer choice theory, intergenerational equity, non-convexities, and multiple equilibria. This systematic critique of neoclassical economic approaches is followed by a companion work, Institutions, Sustainability, and Natural Resources: Institutions for Sustainable Forest Management, Volume 2 in the series.
Forest resources are an ideal starting point for economic analysis of sustainability. In this book, leading economists discuss key aspects of susta...
A new economic theory, rather than a new public policy based on old theory, is needed to guide humanity toward sustainability. Institutions are a critical dimension of sustainability and sustainable forest management, and economic analysis of institutional dimension requires an inclusionist rather than an exclusionist approach. This book provides a systematic critique of neoclassical economic approaches and their limitations with respect to sustainability. Leading institutional economists discuss theoretical perspectives about appropriate institutions for sustainable forest management,...
A new economic theory, rather than a new public policy based on old theory, is needed to guide humanity toward sustainability. Institutions are a c...
During the last two decades, I have subjected the concept of sustainable development to economic analysis. To a great extent this work has been done in co-operation with my co-authors Wolfgang Buchholz, Bertil Tungodden, Martin Weitzman and Cees Withagen, and it has lead to a series of journal articles. This book presents the results of this research program. The original articles are reproduced. However, I have updated information about references and corrected a few mistakes (mostly typographical). STRUCTURE OF THE BOOK This book consists of 19 chapters. Chapter 1 is new, written as a guide...
During the last two decades, I have subjected the concept of sustainable development to economic analysis. To a great extent this work has been done i...
The current paradigm of forest economics is based on Faustmann Formulation (FF) of land expectation value proposed by Martin Faustmann. It was a great achievement by a forester to propose a formulation that captures some fundamental economic features of capital theory which. However, the followers of the FF approach have trapped themselves into the past, and have not shown any indication of economic acumen of the great Faustmann. This has resulted in a common problem in the current paradigm of forest economics, known as Faustmann Forest Resource Economics (FFRE), to prescribe the application...
The current paradigm of forest economics is based on Faustmann Formulation (FF) of land expectation value proposed by Martin Faustmann. It was a great...
